Ensign Peak Advisors Inc Lowers Stake in Zscaler, Inc. (NASDAQ:ZS)

Ensign Peak Advisors Inc decreased its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 270,269 shares of the company’s stock after selling 2,028 shares during the period. Ensign Peak Advisors Inc owned approximately 0.18% of Zscaler worth $48,759,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Global X Japan Co. Ltd. grew its holdings in Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after acquiring an additional 79 shares during the last quarter. Summit Securities Group LLC purchased a new position in Zscaler during the 4th quarter valued at about $27,000. Colonial Trust Co SC bought a new stake in shares of Zscaler in the 4th quarter worth approximately $28,000. Stonebridge Financial Group LLC purchased a new stake in shares of Zscaler in the fourth quarter worth $29,000. Finally, Crews Bank & Trust bought a new stake in Zscaler during the 4th quarter valued at about $36,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ZS shares. Robert W. Baird upped their price target on Zscaler from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. lifted their price objective on Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Morgan Stanley lowered their target price on Zscaler from $205.00 to $200.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Wedbush upped their price target on shares of Zscaler from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Finally, Bank of America upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and boosted their target price for the company from $215.00 to $240.00 in a research report on Friday, March 7th. Eight research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.66.

Zscaler Stock Performance

NASDAQ:ZS opened at $233.06 on Friday. The stock’s fifty day moving average is $205.63 and its 200 day moving average is $199.90. The firm has a market capitalization of $36.06 billion, a PE ratio of -932.24 and a beta of 1.14. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $235.67.

Insider Activity

In other news, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction on Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the sale, the insider now directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This trade represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the transaction, the chief executive officer now owns 356,414 shares in the company, valued at approximately $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,234 shares of company stock valued at $42,030,790. 18.10% of the stock is currently owned by company insiders.

Zscaler Company Profile

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.